FAQs

Quickly find out if we have already addressed your query.

1. What is Yezcoin?

Yezcoin is a hybrid cryptocurrency exchange that combines the speed of a centralized exchange with the world class security of a decentralized exchange.

We are dedicated to security and have tripled security measures by verifying traders with their biometric information and preventing them from sending their crypto to known scam artists and Internationally sanctioned addresses.

2.What currencies can be used on the Yezcoin exchange?

While Yezcoin is obtaining an Exchange license to allow us to accept Fiat currencies, Yezcoin can trade from cryptocurrencies issued on Bitcoin blockchain, Ethereum blockchain and NEO blockchain. Once Yezcoin has obtained the Exchange license, we will be able to trade Yezcoin with Fiat currencies.

3. Will there be an ICO?

The ICO will take place in the fall of 2018. If you would like us to inform you when the ICO takes place you can sign up with your email here and join our ICO announcement telegram.

4. How can I purchase Yezcoin?

At the moment Yezcoin can be obtained via the following methods:
1) Join our partnership program  - if you are a business. Businesses can use their marketing budgets to purchase Yezcoin and use Yezcoin to reward qualified purchases.
2) Participate in our ICO starting Aug 1.
Only users who completes KYC & AML registration can participate in our ICO. Please note that we only accept Bitcoin (BTC), Ethereum (ETH) and NEO for our pre-sale and crowdsale.
3) In 2019 Q1, Yezcoin can also be purchased from Cryptocurrency Exchanges.

To participate in Yezcoin ICO, investors who don't own any cryptocurrencies, need to follow below steps:
1. Link your bank account to the licensed Cryptocurrency exchanges (take up to 7 days).
2. Buy either BTC , ETH , or NEO for the amount that you plan to purchase Yezcoin
3. Complete KYC & AML registration here and provide the address that the funds is coming from BTC address, ETH adress or NEO address.
4. Create a purchase order.
5. Receive a confirmation of a successful purchase.
6. Receive Yezcoin in YezWallet.

5 What are the uses of the Yezcoin?

Yezcoin is also a utility token that can be used to deduct trading and blockchain usage fees, get discounts from our partner stores or to stake for the fee sharing entitlement. The utility of the Yezcoin will increase as we grow to build a strong, secure community.

6. How is Yezcoin different?

Yezcoin uses existing protocols to generate the next level of security for a sustainable platform built around artificial intelligence.

This technology is designed to enhance trade efficiency and will evolve against both existing and developing threats.

The current international regulatory climate is moving toward a standardized approach amid calls for regulation of ICO's as a security, advances which are welcomed by Yezcoin as we believe in compliance. In addition the physical security of our exchange is very important to us as we know centralized crypto exchanges are still at risk from hackers. We are dedicated to providing the most secure exchange available.

7. Can the platform be used by other exchanges and ICO companies

Yes, other exchanges and ICO companies are able to use Yezcoin services to verify users’ identities that comply with KYC and AML.

8. Who is on the Yezcoin team?

Information about our team can be found here About Team

9. Who are Yezcoin’s partners?

Through Partnership Program, Yezcoin has partnered with restaurants, Asian products import/export companies, Asian products wholesale distributors, Green energy consulting services, Legal Services, Recycle consulting services, US Media consulting services. We continue to expand our partnership to as we grow so that Yezcoin community can enjoy the benefits of Yezcoin Global Partnership network.

10. Where can I get more information?

Follow us on social media or send an email to [email protected]

11. What is the Yezcoin Identity Management and Hybrid Cryptocurrency Exchange Model?

Yezcoin Identity Management is a Blockchain solution to enable our customers to securely store their personal information and they have full control over whom they will share their information and even monetize their information if they choose to. 

Hybrid Cryptocurrency Exchange is an enhanced version of the Decentralized Cryptocurrency Exchange. The trend to develop decentralized Cryptocurrency Exchange has been a rise; however, security comes with a price of the speed limited by Blockchain creation speed. Yezcoin realized that not all data require the same level of security and less sensitive information can be performed off the chain to speed up the process. With this architecture, Hybrid Cryptocurrency model can enjoy speed of Centralized Exchange and also the security of Decentralized Exchange.  

12. What are Yezcoin solutions?

- Assurance that the blockchain KYC & AML on our platform is 100% compliant with government regulations.

- Our exchange is a hybrid model that offers the speed of a centralized model and the security of a decentralized model. Yezcoin achieves this balance with the strengths of both models.

- Our advanced mobile technology allows us to run blockchain on mobile phones.

- With a 2-factor authentication process plus biometrics authentication, in addition to screening for fraud and blacklisted sites, Yezcoin provides you with peace-of-mind security.

- We mitigate the risk of private key management with multi-signature signing technology. Yezcoin's customers can manage their private key via their biometric data.

- Our 24/7 customer service will ensure that help is only a click away.

- Yezcoin is forming a Cryptocurrency Exchange Alliance where cryptocurrency exchanges will benefit from high liquidity and larger pool of customers.

13. Why NEO and how does it apply to the Solution for Scalability?

Yezcoin is using NEO Blockchain to support our proprietary identity management solution. Why NEO? There are a number of blockchain platforms offering different approaches. Among them, NEO stands out with high throughputs, a supportive community and scalable solutions. NEO provides a node program, Blockchain Explorer, SDK Development Kit, Smart Contract Compiler and IDE Plugin, decentralized applications.


Consensus

NEO's consensus algorithm, Delegated Byzantine Fault Tolerance (DBFT), is an improved version of classic Byzantine Fault Tolerance for scalability.

14. What are the advantages of a hybrid exchange?

Centralized exchange is fast but lacking in security, while a decentralized exchange is secure but lacks speed. There is room in the middle to balance speed and security by storing sensitive information on the chain while performing order matching off the chain. This way Yezcoin will have the speed of centralized model and the world class security of a decentralized model.

15. How is Yezcoin compliant with KYC & AML?

Know Your Customer(KYC) and Anti Money Laundering(AML) rules have been the focus of government regulators trying to combat illegal activities in the cryptocurrency ecosystem. Unfortunately, existing cryptocurrency companies inherited KYC &AML issues since the birth of Bitcoin. As of now, no blockchain companies are able to claim that they are fully compliant with KYC & AML. Yezcoin will be the first company that is 100% KYC & AML compliant. More details of KYC & AML implementation can be found here

16. What is Biometrics ID?

Biometric information usage has been increasing . Most modern smartphones come with Biometrics login capabilities. Enabling Biometrics ID to unlock a digital wallet is the next logical step. Many users have lost access to their wallets due to the loss of private keys. Yezcoin is using its proprietary encrypted Biometrics ID management solution to allow customers to unlock their digital wallets and securely manage their Biometrics ID.

17. What is Smart AI?

Each cryptocurrency exchange trade comes with at least two options when making a purchase: 1) purchase with other cryptocurrency and pay full price; 2) purchase with the exchange currency and get a discounted price. Not all cryptocurrencies can be traded from one exchange and some cryptocurrencies are only available on certain exchanges. There are so many option and complicated steps involved in a cryptocurrency trading transaction. Among many options, there is an optimal path where the customer will pay the lowest fee for the same transaction. Yezcoin's Smart AI will perform all complicated calculations and selections and only present the customer with the best deal for both buying and selling.

18. What is the advantage of Yezcoin Mobile Blockchain?

Mobile devices have become a part of modern life and are increasing in power day by day. Unfortunately, the requirements to run blockchain nodes are too demanding. Yezcoin is working with blockchain experts and mobile engineers to enable our blockchain solution to run on mobile devices. It is a challenging but vital next step that it must be achieved if we want the world to adopt blockchain technology. It must to work on mobile devices and Yezcoin is committed to making it happen.

19. What is Yezcoin Scam Detector and International Sanctions Check?

The cryptocurrency market has grown tremendously since 2017. A vast amount of funding has been invested into cryptocurrency. Sadly, the high growth in the market has attracted fraud as well. Criminals will impersonate someone who is a cryptocurrency market influencer and pretend that they are running a campaign to give back to investors only after investors send them the requested cryptocurrency. Thousands of investors have become victims of these scams. Furthermore, with the ease of transferring money, funding of these illegal activities has been on the rise and the use of an international Sanctions List has become less effective. To address these issues, Yezcoin has developed features to verify every account whether it matches any published international sanctions information at the registration and also to alert users if the sending wallet address matches one of 3,000+ known scammer addresses.

20. What is schedule for deployment of various phases?

Yezcoin Road Map

- Issue 1B Yezcoin with symbol YEZ (June 2018)

- Yezcoin Identity Management Solution on Mainnet (July 2018)

- Whitelist event (August 2018) : allow users to pre-register for Pre-ICO/ICO

- Pre-ICO (September 2018): expect to release 200M coins at $0.10

- ICO (October 2018) : expect to release 400M coins at $0.20

- List on Existing exchanges (December 2018)

- Yezcoin Crypto Exchange on Testnet (December 2018)

- Yezcoin Crypto Exchange on Mainnet (Q1 2019)

- Develop ICO Launchpad/Smart AI/Mobile Blockchain technology (2019)

21. Tell me about the Yezcoin Token Economy

- 100% = 1B Yezcoin

- 10% partnership + 20% pre-sale + 40% crowd-sale + 15% team rewards + 15% R&D

- Yezcoin can be used to deduct fees from an ID management service.

- Yezcoin can be used to deduct fees from trading in exchanges.

- Yezcoin can be used to get discounts from partner stores.

- Yezcoin can be held in Yezcoin wallet for fee-sharing entitlements.


Yezcoin's success brings more successes

Yezcoin will provide the KYC & AML compatible platform to future blockchain companies that plan to issue an ICO so that the future companies can meet KYC & AML compliances from the start. Then, after the ICO, the next hurdle is to get a new cryptocurrency to be listed on the exchange. We will help these companies's coins to get listed on our exchange and other exchanges in our alliance. Furthermore, we will provide skills and expertise to help companies in our Yezcoin Launchpad to follow our success model.

22. What is NEO address?

NEO address refers to NEO wallet public address. Users provide this information when they register so that we can reward them with Yezcoin.

23. How do I get a NEO wallet public address?

A NEO wallet public address can be obtained at https://wallet.yezcoin.com/ Users should provide this information to receive their Yezcoin.

24. How do I get a Yez Wallet?

Create a wallet using Google Login, Facebook Login or your email (you need to know your password to login to the selected method). The wallet will create a default passphrase. You can change or accept the proposed passphrase. You will need the passphrase together with encrypted key to unlock your wallet.


We offer two kinds of access to your secure wallet:

1) a private key

2) an encrypted key with a passphrase.


1) Open your wallet with a private key – with this method you can open your wallet from any wallet that supports YEZ (NEP-5 Token). Anyone with your private key can open your secure wallet. Never share your private key!!

2) Open your wallet with an encrypted key with passphrase – this method provides another option for unlocking your wallet. Since you are not supposed to share your private key with anyone, using the encrypted key will allow you to save encrypted key on an internet cloud service and only you who knows your passphrase can unlock your wallet. Please note that if you don’t have a failsafe method for managing your password, the risk of your keys being stolen might actually be lower than the risk of you forgetting where you saved your keys. We recommend that you to save all of the information in an email and send it to yourself.


At the next screen, you will have 3 options:

1) save keys

2) print keys and

3) continue to wallet


1) We recommend that you save your keys as a file [jp3] because then you will have all of your information in one place. You will need to give your Public Address to people who are sending you money and you will need either your private key or encrypted key + your passphrase to unlock your wallet.

2) For someone who doesn’t want their wallet to leave a digital trace, you may choose to print this information but please make sure you keep it in a very safe place. Losing this piece of paper means you will lose all of the money in your wallet. Yezcoin does not have access to your private key so will not be able to help you retrieve it.

3) Continue to wallet: choose this option after you have either downloaded or printed your wallet information.

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